Banco Santander has put 7,000 reperforming mortgages up for sale. According to El Confidencial, the operation involves the securitization of 700 million euros worth of loans with occasional payment defaults, but none lasting more than 90 days.
Next week, Apollo, Elliott, Carval, M&G, JP Morgan and Goldman Sachs will submit their offers to acquire the portfolio. A priori, the opportunistic funds will be the favourite candidates since they are the most specialized in this type of portfolio. Nevertheless, North American banks also tend to invest in higher quality loans.
Read the full article in Spanish.